Ablative Solutions secures $77 million in largest known VC deal in Michigan

January 3, 2019 - MiBiz

Ablative Solutions Inc. secured $77 million in financing that ranks as the largest known venture capital deal ever in Michigan.

Netherlands-based Gilde Healthcare, which has an office on Boston, led the Series D financing round in Kalamazoo-based Ablative Solutions, which developed a catheter system to treat uncontrollable hypertension by deactivating nerves in renal arteries.

Petoskey-based BioStar Ventures, Michigan Accelerator Fund 1 in Grand Rapids, and Kalamazoo-based Novus Biotechnology Fund 1 co-led the VC round, which includes an unnamed strategic investor and several individual investors. The funding will take the company through late-stage clinical trials in the U.S. and Europe to prove the effectiveness of the treatment. more

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